162,591 Shares in DraftKings Inc. (NASDAQ:DKNG) Bought by Sanders Morris Harris LLC

Sanders Morris Harris LLC purchased a new stake in DraftKings Inc. (NASDAQ:DKNG) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 162,591 shares of the company’s stock, valued at approximately $6,165,000. DraftKings comprises approximately 0.9% of Sanders Morris Harris LLC’s portfolio, making the stock its 16th largest holding.

Several other large investors also recently bought and sold shares of the stock. Delos Wealth Advisors LLC purchased a new stake in shares of DraftKings in the 3rd quarter valued at about $43,000. V Square Quantitative Management LLC acquired a new position in shares of DraftKings in the 3rd quarter valued at $46,000. Creative Financial Designs Inc. ADV raised its position in DraftKings by 36.8% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,190 shares of the company’s stock valued at $47,000 after purchasing an additional 320 shares during the last quarter. Eastern Bank purchased a new stake in shares of DraftKings in the third quarter valued at about $59,000. Finally, Quarry LP acquired a new position in shares of DraftKings during the second quarter worth about $87,000. Institutional investors and hedge funds own 37.70% of the company’s stock.

DraftKings Trading Up 0.2 %

Shares of DKNG opened at $38.79 on Thursday. DraftKings Inc. has a 12 month low of $28.69 and a 12 month high of $49.57. The stock’s 50-day moving average is $40.64 and its two-hundred day moving average is $37.93. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market cap of $34.16 billion, a PE ratio of -44.08, a P/E/G ratio of 2.99 and a beta of 1.90.

DraftKings (NASDAQ:DKNG) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.18). DraftKings had a negative return on equity of 41.23% and a negative net margin of 9.06%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. Equities analysts forecast that DraftKings Inc. will post -0.83 earnings per share for the current fiscal year.

Insider Transactions at DraftKings

In other news, insider Paul Liberman sold 200,000 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $39.00, for a total transaction of $7,800,000.00. Following the completion of the sale, the insider now directly owns 1,342,722 shares in the company, valued at $52,366,158. This trade represents a 12.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jason Robins sold 3,151 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $43.71, for a total value of $137,730.21. Following the completion of the transaction, the insider now owns 2,631,033 shares in the company, valued at approximately $115,002,452.43. This trade represents a 0.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,052,183 shares of company stock valued at $41,303,025. Corporate insiders own 48.94% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Morgan Stanley upped their target price on shares of DraftKings from $47.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 22nd. Macquarie upped their target price on DraftKings from $50.00 to $51.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price target on shares of DraftKings in a report on Friday, November 8th. Barclays boosted their target price on shares of DraftKings from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company raised their target price on shares of DraftKings from $47.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.08.

DraftKings Company Profile

DraftKings Inc operates as a digital sports entertainment and gaming company in the United States and internationally. It provides online sports betting and casino, daily fantasy sports, media, and other consumer products, as well as retails sportsbooks. The company also engages in the design and development of sports betting and casino gaming software for online and retail sportsbooks, and iGaming operators.